Funding round
Gusto Series A
Gusto, which works in payroll management software development in San Francisco, raised $20M in a Series A round announced on 19 Feb 2014, led by General Catalyst and Kleiner Perkins. 2 firms took part. It is Gusto's second venture round on record; the one before was a Seed in Dec 2012.
$20M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Gusto did not disclose a valuation in this round. It came 14 months after Gusto's Seed. It is 3.3% of the $601M Gusto has raised in the venture rounds on record. Gusto raised again 14 months later: a Series B round of $60M in Apr 2015, at $560M post-money.
Gusto's funding rounds
Gusto has 6 venture rounds on record. This one is highlighted.
- Seed 11 Dec 2012 $6.1M
- Series A this round 19 Feb 2014, led by General Catalyst and Kleiner Perkins $20M
- Series B 10 Apr 2015, led by CapitalG $60M$560M post-money
- Series C 31 Jul 2018, led by T. Rowe Price Associates, MSD Capital and Dragoneer Investment Group $140M$2.00B post-money
- Series D 24 Jul 2019, led by Fidelity Management & Research and Generation Investment Management $200M$3.80B post-money
- Series E 10 Aug 2021, led by T. Rowe Price Associates, Inc. $175M$9.50B post-money
Investors
Who put money in
General Catalyst and Kleiner Perkins led the round.
Lead investors
- General Catalyst backs 574 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
254 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.0M, and this round was 4.0 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 7 Feb 2014 | $6.0M | not disclosed | dfj |
| Tech Companies | 13 Feb 2014 | $3.4M | not disclosed | The Westly Group |
| Tech Companies | 25 Feb 2014 | $2.8M | not disclosed | Granite Ventures and Opus Capital |
| Tech Companies | 26 Feb 2014 | $1.5M | not disclosed | not named |
| Tech Companies | 7 Jan 2014 | $13M | not disclosed | Updata Partners |
| Tech Companies | 1 Jan 2014 | $11M | not disclosed | Sequoia Capital |
| Tech Companies | 9 Jan 2014 | $11M | not disclosed | Blumberg Capital |
| Tech Companies | 22 Jan 2014 | $10M | $54M | Lightspeed Venture Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Gusto raise in its Series A round?
Gusto raised $20M in its Series A round, announced in Feb 2014.
Who led Gusto's Series A round?
General Catalyst and Kleiner Perkins led it.
What was Gusto's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
254 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.0M, and this round was 4.0 times the median.
Did Gusto raise again after this round?
Yes: a Series B round in Apr 2015 of $60M at $560M post-money.